Apple share dive stuns Wall Street

Reuters is reporting that Apple has experienced some rare disappointment as its share value plummeted in the wake of lackluster quarterly results. Revenue and earnings for the world's most valuable technology corporation reportedly fell short of Wall Street's targets, as sales of its flagship iPhone also came in well short of expectations. The company's CFO explained that iPhone sales came in ahead of internal expectations but were hurt in September by customers waiting for a new version. The September quarterly report was Apple's first under new CEO Tim Cook, who takes over during a critical juncture for the company. As noted by Reuters, Apple is currently battling the fast-rising Google Inc. in the mobile arena, while fending off consumer electronics giants such as Samsung and Amazon.com.